The Montreal Opera House has two types of seats: Regular seats and prime seats. The fixed costs sum up to $48,000. Below you find further relevant information: Regular Seats Prime Seats Sales Mix in Units 90% Selling Price Unit CM CM Ratio $16 $6 37.5% 10% $20 $10 50% The total manufacturing costs incurred for the year are $200,000. The overhead cost was 60% of the direct labor cost, and the direct materials cost was $25,000. Direct labor cost was
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- Last year, Orsen Company produced 25,000 juicers and sold 26,500 juicers for 60 each. The actual variable unit cost is as follows: Fixed overhead was 320,000. Fixed selling expenses consisted of advertising copayments totaling 110,000. Fixed administrative expenses were 236,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was 148,000 for 4,000 juicers. The value of ending inventory reported on the financial statements was a. 55,500 b. 92,500 c. 66,500 d. 39,900What was the direct labor cost on these general accounting question?Sunland makes Halloween costumes. The company incurred the following total costs to produce 27,900 costumes. Direct materials $250,000 Direct labor 126,000 Variable overhead 22,970 Fixed overhead 125,550 (a) Under the absorption costing method, what is the average unit product cost? Using this method, how much product cost would be recorded on the income statement if 19,400 units were sold? (Round per unit to 3 decimal places, e.g. 15.256 and product cost to 0 decimal places, e.g. 5,275.) Average unit product cost $enter a dollar amount rounded to 2 decimal places Product cost $enter a dollar amount rounded to 0 decimal places (b) Under the variable costing method, what is the average unit product cost? Using this method, how much product cost would be recorded on the income statement if 19,400 units were sold? (Round per unit to 3 decimal places, e.g. 15.256 and product cost to 0 decimal places, e.g. 5,275.) Average unit product cost…
- Siegel Corporation produces a product that is available in both a Deluxe and a Regular model. It is estimated that $2,410,000 in manufacturing overhead costs will be incurred and that the company will produce 9,500 units of the Deluxe model and 20,000 units of the Regular model. The Direct Materials and Direct Labor costs per unit are as follows: Deluxe Regular $155 $20 Direct Materials cost per unit. Direct Labor cost per unit... $124 $11 The company uses Activity-Based Costing to allocate manufacturing overhead costs to its products. Four activity cost pools and their associated activities are as follows: Estimated Activity Deluxe Estimated Regular Overhead Activity Cost Pool and Activity Measure Purchase orders (number of orders) Rework requests (number of requests) Product testing (number of tests) Machine-related (machine hours) Cost $ 100,000 220,000 480,000 1,610,000 $2,410,000 300 orders 700 orders 600 requests 10,000 tests 24,250 hours 500 requests 6,000 tests 16,000 hours…Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 7,850 rackets and sold 5,830. Each racket was sold at a price of $90. Fixed overhead costs are $102, 050 per year, and fixed selling and administrative costs are $69,000 per year. The company also reports the following per unit variable costs for the year. Direct materials $ 12 Direct labor 8 Variable overhead 5 Variable selling and administrative expenses 2 Prepare an income statement under variable costing. Answer is complete but not entirely correct. ACES INCORPORATED Income Statement (Variable Costing) Sales Less: Cost of goods sold Variable cost of goods sold Variable selling and administrative expenses Fixed overhead Gross profit Less: Fixed expenses Variable selling and administrative expenses Fixed selling and administrative expenses Variable cost of goods sold Income x X X $ 69,960 46,640 X 75,790 X $ 11,660 X 69,000 $ 524,700 192,390 303,160 80,660 $ 222,500XAndretti Company has a single product called a Dak. The company normally produces and sells 60,000 Daks each year at a selling price of $32 per unit. The company’s unit costs at this level of activity are given below: Direct materials $ 10.00Direct labor 4.50Variable manufacturing overhead 2.30Fixed manufacturing overhead 5.00 ($300,000 total)Variable selling expenses 1.20Fixed selling expenses 3.50 ($210,000 total)Total cost per unit $ 26.50 A number of questions relating to the production and sale of Daks follow. Each question is independent. Required: 1-a. Assume that Andretti Company has sufficient capacity to produce 90,000 Daks each year without any increase in fixed manufacturing overhead costs. The company could increase its sales by 25% above the present 60,000 units each year if it were willing to increase the fixed selling expenses by $80,000. Calculate the incremental net operating income. Increased sales in units:___________Contribution margin per…
- Wyckam Manufacturing Inc. has provided the following information concerning its manufacturing costs: Fixed Cost per Month Direct materials Direct labor $ 42,600 Supplies Utilities Depreciation Insurance $ 1,800 $ 14,600 $ 11,400 Required: Cost per Machine-Hour $ 5.40 $0.30 $ 0.10 For example, utilities should be $1,800 per month plus $0.10 per machine-hour. The company expects to work 4,100 machine-hours in June. Note that the company's direct labor is a fixed cost. Complete the company's planning budget for manufacturing costs for June.Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 7,450 rackets and sold 5,630. Each racket was sold at a price of $90. Fixed overhead costs are $96,850 per year, and fixed selling and administrative costs are $68,200 per year. The company also reports the following per unit variable costs for the year. Direct materials $ 12 Direct labor 8 Variable overhead 5 Variable selling and administrative expenses 2Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 7,450 rackets and sold 5,630. Each racket was sold at a price of $90. Fixed overhead costs are $96,850 per year, and fixed selling and administrative costs are $68,200 per year. The company also reports the following per unit variable costs for the year. Direct materials $ 12 Direct labor 8 Variable overhead 5 Variable selling and administrative expenses 2 Prepare an income statement under variable costing.
- CWB Inc. produces stuffed bunnies. The company normally produces and sells 78,000 stuffedbunnies each year at a selling price of $50 per unit. The company's unit costs at this level ofactivity are given below: Direct materials $9.30Direct labor 8.00Variable manufacturing overhead 2.00Fixed manufacturing overhead 6.00 ($468,000 total)Variable selling expenses 1.50Fixed selling expenses 6.00 ($468,000 total)Total cost per unit $32.80 The company has 500 completed stuffed bunnies on hand that have someirregularities and are therefore considered to be "seconds." Due to the irregularities, it will beimpossible to sell these units at the normal price through regular distribution channels. Whatunit cost figure is relevant for setting a minimum selling price? Briefly explain why. How to do it and what does unit cost figure mean?Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,800 rackets and sold 4,700. Each racket was sold at a price of $88. Fixed overhead costs are $74,240 for the year, and fixed selling and administrative costs are $65,000 for the year. The company also reports the following per unit variable costs for the year. Direct materials Direct labor Variable overhead Variable selling and administrative expenses Required: Prepare an income statement under variable costing. $ 11.94 7.94 4.92 1.80The Molis Corporation has the capacity to produce 15,000 hats each month. Current regular production and sales are 10,000 hats per month at a selling price of $15 each. Based on this level of activity, the following unit costs are incurred: Per Unit Direct Material $5.00 Direct Labor $3.00 Variable manufacturing overhead $0.75 Fixed manufacturing overhead $1.05 Variable selling expenses $0.75 Fixed SG&A expense $1.00 Unit product cost $12.00 The Molis Corporation has received a special order from a customer who wants to pay a reduced price of $10 per hat. There would be no selling expense in connection with this special order. And, this order would have no effect on the company's other sales. Suppose the special order is for 4,500 hats this month. If this offer is accepted by Molis, what is the impact on the company's operating income.
